the authorised officer (ao) of idbi bank limited greams ... · idbi bank limited greams road branch...

The Authorised Officer (AO)

of

IDBI BANK LIMITED

GREAMS ROAD BRANCH

No.37, PM Towers, Greams Road,

Chennai - 600006

M/s. Archit Builders Private Limited

BID DOCUMENT

For

Sale of Assets

Under the provisions of

The Securitisation and Reconstruction of Financial Assets and Enforcement of

Security Interest Act, 2002

and

The Security Interest (Enforcement) Rules, 2002


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CONTENTS

Sr. No Particulars Page No.

I Possession Notice 3-5

II Public Notice for auction published in the newspapers 6-8

III Brief Description-Immovable Property 9

IV Outstanding Dues of IDBI Bank 10

V Terms & Conditions 11-17

VI Form - Profile of the Bidder –Individual 18-19

VII Form - Profile of the Bidder –Company/ Firm/Party 20-22

VIII Form-Appendix to the Bid/ Offer (Declaration by the Bidder) 23-25

***


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(I)

POSSESSION NOTICE

[Under Rule 8(1) of Security Interest (Enforcement) Rules, 2002]


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The above notice was published in the following newspapers on 19.08.2018

a) The New Indian Express (English)- Chennai Edition

b) Dinamani (Tamil)- Chennai Edition


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E-Auction Notice dated 24.07.2020


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The above notice was published in the following newspapers

S.No. Newspapers Edition Date Published

1 The New Indian Express Chennai 24.07.2020

2 Dinamani Chennai 24.07.2020


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III

BRIEF DESCRIPTION OF THE ASSET

(a) Details of Property

Sr.No. Property Description

1 All that piece and parcel of the property consisting of Flat admeasuring 700

Sq.ft (Super Plinth Area) in Flat No.A-8, Second Floor in Subhiksham

Apartments, Door No.78/8, G-Block together with undivided share of land

measuring 351 Sq.ft. out of one ground 790 Sq.ft situated in inner Plot No.21,

X-Block, D.No.G-78, Arignar Anna Nagar East, Chennai-600 102 in the

sanctioned plan of West Madras Neighbourhood Scheme, comprise in R.S.No.1/

in T.S.No.46/2, Block No.6 part of Periyakudal Village within the Registration

District of Chennai Central and Sub-Registration District of Anna Nagar and is

bounded as follows: On the North By: Scheme Boundary; On the South By: Plot

No.X-22 (D.No.G-79); On the East By: Plot No.X-23 (D.No.G-80) and On the

West By: 20 feet Road; Property owned by Shri. N Ranganathan.


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IV

Outstanding Dues of IDBI Bank in the account of

M/s. Archit Builders Private Limited as on 01.10.2018

(Amount in Rs)

Working Capital Loan Total

Principal 2,30,00,000.00 2,30,00,000.00

Interest 19,43,350.30 19,43,350.30

Additional

Interest 0.00 0.00

Further Interest 0.00 0.00

Liquidated damages 0.00 0.00

Legal Expenses 3,95,557.56 3,95,557.56

Total 2,53,38,907.86 2,53,38,907.86

Total dues as on October 01, 2018: Rs.2,53,38,907.86 plus interest thereon w.e.f

October 02, 2018.


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V. Terms & Conditions

1. The Authorised Officer (AO) exercising the powers under the Securitisation and

Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

read with Security Interest (Enforcement) Rules, 2002 (hereinafter referred to as "the

SARFAESI Act") is selling the assets/properties mentioned at Item No.III of the

Tender Document (hereinafter referred to as the 'Secured Assets') and the same are

being sold free from charges and encumbrances of the secured lenders.

2. Issue of Tender/ Offer / Bid Document The Tender Document along with required Form is available from July 24, 2020 to

August 10, 2020 on any working day between 11.00 am to 5.00 pm can be obtained

from Authorised Officer, IDBI Bank Ltd., No.37, PM Towers, Greams Road,

Chennai 600 006.

The tender document can also be downloaded from IDBI website - www.idbi.com

Announcements Notices & Tenders And also from E-auction service provider

i.e M/s 4 Closure. Website: www.foreclosureindia.com / https://bankauctions.in.

3.

Reserve Price and EMD

The Reserve Price for the sale of the Secured Assets is fixed as under :

Property Details Reserve Price

(in. Rs)

EMD (in

Rs.)

All that piece and parcel of the property consisting

of Flat admeasuring 700 Sq.ft (Super Plinth Area)

in Flat No.A-8, Second Floor in Subhiksham

Apartments, Door No.78/8, G-Block together

with undivided share of land measuring 351

Sq.ft. out of one ground 790 Sq.ft situated in inner

Plot No.21, X-Block, D.No.G-78, Arignar Anna

Nagar East, Chennai-600 102 in the sanctioned

plan of West Madras Neighbourhood Scheme,

comprise in R.S.No.1/ in T.S.No.46/2, Block No.6

part of Periyakudal Village within the Registration

District of Chennai Central and Sub-Registration

District of Anna Nagar and bounded on the: On the

North By: Scheme Boundary; On the South By:

Plot No.X-22 (D.No.G-79); On the East By: Plot

No.X-23 (D.No.G-80) and On the West By: 20 feet

Road; Property owned and mortgaged by Shri. N

Ranganathan.

41,20,000

4,12,000

4. The sale of Secured Asset is on “As is where basis”, “As is what is basis”,

“Whatever there is basis” and “Without recourse basis”. The description of the

immovable property is based on the mortgage created by the Borrower with the

secured lender from time to time and the representations made by them. The

Authorised Officer (AO) does not take or assume any responsibility for any shortfall

of the immovable assets or for procuring any permissions, etc. or for the dues of any

authority established by law. All statutory liabilities / taxes / maintenance fee /

electricity / water charges etc., outstanding as on date and yet to fall due would be

ascertained by the bidder(s) and would be borne by the successful bidder. It is

http://www.idbi.com/


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expressly made clear that the AO / Bank do not take any responsibility to provide

information on the same. The AO / Bank does not take or assume any responsibility

for any dues, statutory or otherwise, of M/s. Archit Builders Private Limited

(Asset owned by Shri. N Ranganathan) including such dues that may affect

transfer of the assets in the name of the purchaser and such dues, if any, will have to

be borne/paid by the purchaser. Details of encumbrances known to the secured

creditor are NIL. However the prospective bidders are advised to satisfy themselves

regarding encumbrances, if any, over the above properties.

5. Inspection of assets The interested parties may, at their own cost and expense, inspect the property on

August 05, 2020 (Wednesday) from 11.00 am to 02.00 pm in the presence of a

representative of the AO available at the site to facilitate the inspection.

6. Due Diligence by the Bidders The interested parties may carry out their own comprehensive due diligence in

respect of the Secured Asset including any dues relating to the Secured Asset. A

bidder shall be deemed to have full knowledge of the condition of the asset, relevant

documents, information, etc. whether the bidder actually inspects or visits or verifies

or not.

7. The bidders shall be deemed to have inspected and approved the Secured Asset to

their entire satisfaction and for the purpose, the Bidders may, in their own interest

and at their own cost, verify the area of the premises and details of immovable asset

and any other relevant information before submitting the Bids. It shall be presumed

that the bidder has satisfied himself/ herself about the names, descriptions,

particulars, quantities, qualities, specifications, measurements, boundaries and

abuttals of the asset(s)/ properties and that the bidder concurs or otherwise admits

the identity of the asset(s)/properties purchased by him/ her notwithstanding any

discrepancy or variation, by comparison of the description in the particulars of the

asset(s)/ properties and their condition.

8. The Bidder shall not be entitled to receive re-imbursement of any expenses which

may have been incurred in preparation of the Bid/ Offer for submission and/or for

carrying out due diligence, search of titles to the assets and matters incidental thereto

or for any other purpose in connection with purchase of the assets under reference.

9. Submission of Tender/Offer The Bidder shall complete in all respects the Profile of the Bidder and Declaration

by the Bidder annexed to the Tender Document, and furnish the information called

for therein and shall sign and date each of the documents in the space provided

therein for the purpose. The Bidder shall initial each page of all the documents.

Offers received for sale and / or accepted are not transferable.

The Format for submission of “Profile of the bidder” & “Declaration by the

Bidder” are given in Chapter VI of this Tender Document. Bidders may fill in only

the form relevant / applicable to them.

10. The Bid Documents shall be signed by a person or persons duly authorized by the

Bidder with the signature duly attested.

11. The Bid documents shall contain the full address, Telephone No., Fax No., e-mail-

ID, if any, of the Bidder for serving notices required to be given to the Bidder in

connection with the Offer.


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12. The Bid documents shall not be detached one from the other and no alteration or

mutilation (other than filling in all the blank spaces) shall be made in any of the

documents attached thereto.

13. Last date for submission of Bid Document The interested parties may submit Bid Document duly filled and signed on each

page along with EMD and other required documents to The Authorised Officer,

IDBI Bank Ltd, No.37, PM Towers, Greams Road, Chennai - 600006 on any

working day but not later than 05.00 p.m. on August 10, 2020 in a sealed cover

which shall be superscribed as “Bid Document and EMD: A/c M/s. Archit

Builders Private Limited” along with Demand Draft/Pay Order with minimum

EMD amount in a sealed cover. The DD / PO should be drawn in favour of “IDBI

Bank Ltd. - A/c M/s. Archit Builders Private Limited” payable at Chennai issued

by any Nationalised Bank/ Scheduled Bank as Earnest Money Deposit (EMD).

Remittance of EMD by way of RTGS. Bidders who prefers to submit the EMD by way RTGS, may remit the EMD amount

in favour of IDBI Bank Limited, Account No. 00537000010052, IFSC Code:

IBKL0000005, Branch: Greams Road, No.37, PM Towers, Greams Road, Chennai

- 600006 not later than 5 p.m. on August 10, 2020. Such bidders must indicate

RTGS UTR No., Amount remitted and date in the appropriate space in the

Profile of the Bidder.

14. Only those bidders will be permitted to participate in the auction whose Bid

Document is complete in every respect and whose Demand Draft/ Pay Order for

EMD is found to be in order and /or remittance by way of RTGS proceeds is

credited into the account indicated well before the cut-off time. Bank does not take

any responsibility and will not entertain any complaint for any delay in transfer of

funds by way of electronic mode. Form of Bid, if found incomplete in any respect,

shall be liable for outright rejection. Bidders, whose forms are found to be in order

together with the EMD, submitted by them, will be intimated by e-mail and through

mobile.

15. Registration with E-Auction Service Provider

1. Participants who are not already registered with the e-auction provider M/s.4

Closure should register themselves by following the procedure mentioned at the

website https://bankauctions.in

2. The participants/ intending purchasers are necessarily required to submit

following documents/ papers for registration to M/s.4 Closure

a. Form duly signed & filled up. Please download from https://bankauctions.in

b. Self attested copy of Pan Card

c. Self attested valid residential proof (Voter Id card, Passport copy, Ration

card, telephone bill, electric bill - Any one)

d. Self attested valid e-mail id and mobile number.

The user id and password will then be sent directly to the registered participants /

intending purchasers whose Bid Document is complete in every respect and whose

Demand Draft/ Pay Order for EMD is found to be in order and /or remittance by way

of RTGS proceeds is credited into the account indicated well before the cut-off time

and the documents are complete in all the respects, with further directions by the e-


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auction provider company, if any, for log in and participating in the auction through

online process.

After receiving the userid / password, in case any bidders feel the need for training /

e – auction support, such bidders may contact Shri. Mohan Sundar S on (M)

9515160063 and on [email protected]; Bidding in the last

minute/seconds should be avoided by the bidders in their own interest. Neither

IDBI Bank nor the service provider will be responsible for any lapses (Interest

failure, Power failure, etc) on the part of the vendor, in such cases. In order to

ward of such contingent situation, bidders are requested to make all the

necessary/ alternative arrangements such as backup power supply and

whatever else required so that they are able to circumvent such situation and

are able to participate in the auction successfully.

16. The E-auction day: on August 12, 2020 from 11.00 a.m. to 12.00 noon.

The auction would be held with extensions of 5 minutes each, if required, on e-

auction platform at website https://bankauctions.in. In case no further valid bids

are received during the extended period, the last highest bid received would be

treated as the successful bid and auction would be treated as closed/ terminated.

Increase in Bid Amount :

It may be noted that increase in bid amount, if any, during the e-auction period shall

be made in multiples of Rs.10,000/-.

Increase in bid amount below the said amounts will be rejected.

First bid should be of at least equal to or above Reserve Price or increment(s) over

the Reserve Price in multiples as above.

17. Authorised Officer (AO) reserves the right to retain the EMD of top three bids upto

two months from the date of e -auction and the amount of EMD will not carry any

interest. The Bids so retained will be valid for 3 months from the date of auction or

till further extension of time as may be approved by the AO. The EMD of other bids

will be returned within 7 days from the date of auction.

18. Payment of Sale Price

The successful bidder would be informed in writing about the acceptance of his/ her

bid/ offer by the AO and will be required to deposit 25% of the sale price (less the

amount of EMD) within 2 working days from the date of the valid communication

intimating acceptance of his/her bid by way of crossed A/c Payee Demand Draft/

Pay Order drawn in favour of “IDBI Bank Ltd.-A/c. M/s. Archit Builders Private

Limited” payable at Chennai issued by any Nationalised Bank/ Scheduled Bank or

by way of RTGS in favour of IDBI Bank Limited, Account No.00537000010052,

IFSC Code: IBKL0000005, Branch: Greams Road, No.37, PM Towers, Greams

Road, Chennai-600006.

The Balance amount of the sale price shall have to be paid within 15 days from the

date of valid communication intimating acceptance of his/ her bid by way of crossed

A/c Payee Demand Draft/Pay Order drawn in favour of IDBI Bank Ltd.-A/c. M/s.

Archit Builders Private Limited” payable at Chennai issued by any Nationalised

Bank/ Scheduled Bank or by way of RTGS in favour of IDBI Bank Limited,

Account No. 00537000010052, IFSC Code: IBKL0000005, Branch: Greams Road,

No.37, PM Towers, Greams Road, Chennai-600006 or such extended period as


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may be agreed upon in writing between the successful bidder and the AO.

19. In case the successful bidder fails to deposit 25% of the sale price within the above

stipulated time, the AO shall forfeit the EMD and if the successful bidder backs out

after paying 25% of the sale price, then AO shall forfeit the 25% of the sale

consideration so deposited including the EMD.

20. All claims of the defaulting successful bidder to the asset or to any part of the sum

for which it may be subsequently sold shall stand forfeited.

21. In the event of the successful bidder failing to pay the consideration amount within

the time schedule stipulated, the AO reserves the right to resell the assets to the

second/third highest bidder in the above manner, who shall also be treated as the

successful bidder mentioned in clauses 9 to 16 above and further in terms of this Bid

Document.

22. On confirmation of sale and if the terms of payment have been complied with, the

AO exercising the power of sale shall issue Certificate of Sale for the immovable

property in favour of the purchaser as per the format provided in the Security

Interest (Enforcement) Rules, 2002.

23. The successful bidder shall, after making full payment of sale price within 15 days

of acceptance of bid/ offer or such extended period as may be granted by the AO at

his sole and absolute discretion, arrange to take possession of the Secured Asset

within a maximum of 10 days. It is explicitly stated that once the Sale Certificate

is issued by the AO, the AO shall not be held responsible for security and safe-

keeping of the Secured Assets.

In case the successful bidder fails to take possession of the secured asset as stated

above, the AO reserves the right to revoke the sale confirmed in his/ her favour,

forfeit the entire amount paid by the successful bidder and go for re-bidding or sell

the secured assets by any of the modes as prescribed in the SARFAESI Act

including sale by negotiation with any of the bidders and/or other parties by private

treaty. In such an event, the original successful bidder shall have no claims on the

secured asset or to any amount/s for which it may be subsequently sold.

24. The purchaser will be required to bear all the necessary expenses like stamp duty,

registration expenses, etc. for transfer of asset in his/ her name. It is expressly

stipulated that there are no implied obligations on the part of the AO or the secured

lenders and it shall be solely the obligation of the Bidder, at his/ her cost, to do all

acts, things and deeds whatsoever for the completion of the sale including payment

of all statutory liabilities / housing society tax / maintenance fee / electricity / water

charges etc., outstanding as on date and yet to fall due would be ascertained by the

bidder(s) and would be borne by the successful bidder to get the asset transferred in

his / her/ their name. Bank does not take any responsibility to provide information

on the same.

25. The submission of the Bid/Offer means and implies that the Bidder/ Offerer has

unconditionally and irrevocably agreed to and accepted all the above terms and

conditions of the Bid/ Offer laid down herein.

26. The time hereinabove fixed for the observance and performance by the bidder of any

of the obligations to be observed by him/ her under these conditions is and shall be

deemed to be of the essence.


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27. In the event of IDBI Bank’s office remaining closed on the day of bid for any

unforeseen reason, the bids shall take place on the next working day of IDBI

Bank Ltd at 11.00 am to 5.00 p.m

28. General Terms and Conditions

The AO shall be at liberty to amend/ modify/ delete/ drop any of the above

conditions as may be deemed necessary in the light of the facts and circumstances.

29. The entire procedure of auction, the sequence of inter-se bidding etc. shall be at the

sole and absolute discretion of the AO and the intending bidders shall have no right

whatsoever to object to the same.

30. The AO reserves the right and liberty to accept/ reject any (including the highest bid)

or all the Bids/Offer and also reserves the right to cancel the entire sale process

without assigning any reasons. In case all the bids are rejected or the successful

bidder fails to make payments as required in the Bid Document or withdraws his/ her

bid, the AO, at the sole and absolute discretion, reserves the right to go for re-

bidding or sell the assets by any of the modes as prescribed in the SARFAESI Act

including sale by negotiation with any of the bidders and/or other parties by private

treaty and the Bidders shall have no right to object to the same.

31. In the event the said sale in favour of the bidder not being confirmed by AO,

otherwise than on account of the willful default of the bidder or if the sale is set

aside by an order of the Court/ Tribunal, then in that event the sale shall be void and

the bidder shall, in that event be entitled only to receive back his/ her Earnest Money

Deposit (EMD) or purchase money as the case may be, but without interest, and the

bidder shall not be entitled to be payment of his costs, charges and expenses of and

incidental to the said sale and investigation of title or any other costs incurred by

him/ her.

32. Notwithstanding anything stated elsewhere in this Tender Document, the AO

reserves the right to call off the sale process at any point of time without assigning

any reasons.

33. Particular specified in schedule above has been stated to the best of the information

of the authorized officer/ Bank. Authorized Officer and / or Bank will not be

answerable for any error, mis-statement or omission in this Public Notice.

34. Jurisdiction

All disputes arising amongst the parties shall be adjudicated according to Indian Law

and the Courts in Chennai shall have jurisdiction to entertain /adjudicate such

disputes.

35. Tenderer (s) must ensure the following while submitting the tender:

A. THAT THE TENDER SHOULD BE FILLED IN THE FORMAT OF THE TENDER

BIDS ENCLOSED AT ANNEXURE –VI/VII.

B. COPY OF THE PAN CARD OF THE PERSON BIDDING AND IF IT IS A

COMPANY/ FIRM THEN COPY OF THE PAN CARD OF COMPANY/FIRM.

C. COPY OF CERTIFICATE OF INCORPORATION OF THE COMPANY/FIRM


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D. BOARD RESOLUTION OF THE COMPANY/FIRM AUTHORISING THE

PERSON/ PARTNER TO FILE BID FOR THE ASSET AND COPY OF THE

IDENTITY PROOF OF THE SAID PERSON/PARTNER.

E. THAT EVERY PAGE OF THE TENDER DOCUMENT IS DULY SIGNED BY

THE TENDERER BEFORE SUBMITTING THE TENDER AND DOCUMENTS

SUBMITTED SHALL BE DULY ATTESTED.

F. THAT ALL ALTERATION , ERASURES AND OVER WRITING , IF ANY, IN

THE SCHEDULE OR RATE (S) ARE DULY AUTHENTICATED BY THE

TENDERER’S SIGNATURE.

***


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V. FORMAT FOR SUBMISSION OF

PROFILE OF THE BIDDER- INDIVIDUAL

For purchase of the below property

All that piece and parcel of the property consisting of Flat admeasuring 700 Sq.ft (Super

Plinth Area) in Flat No.A-8, Second Floor in Subhiksham Apartments, Door No.78/8,

G-Block together with undivided share of land measuring 351 Sq.ft. out of one

ground 790 Sq.ft situated in inner Plot No.21, X-Block, D.No.G-78, Arignar Anna Nagar

East, Chennai-600 102 in the sanctioned plan of West Madras Neighbourhood Scheme,

comprise in R.S.No.1/ in T.S.No.46/2, Block No.6 part of Periyakudal Village within the

Registration District of Chennai Central and Sub-Registration District of Anna Nagar and

is bounded as follows: On the North By: Scheme Boundary; On the South By: Plot

No.X-22 (D.No.G-79); On the East By: Plot No.X-23 (D.No.G-80) and On the West By:

20 feet Road; Property owned by Shri. N Ranganathan.

(Bid Document to be filled and submitted by the Bidder/Offerer for each

property separately)

1 a) Full Name of the

Bidder/Offerer

(in Block letters)

:

b) Complete Postal Address

with

PIN Code, Telephone Nos.;

Fax Nos.; Website, etc.

:

c) Mobile Nos.

d) E-mail ID

2 Brief particulars of business

(if any)

:

3 Relationship, if any, the

Bidder/Offerer has with any

employee of IDBI Bank

Limited.

:


Bidder/Offerer has with

Borrower/Promoters/

Guarantors/Mortgagors as

mentioned in the Tender

Document.


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5 Name and particulars of the

Company/Firm/Person in

whose name the Secured

Assets/property are to be

purchased

:

6 Details of Earnest Money

Deposit (EMD).

:

i) Demand Draft No. /

Pay Order No.

:

ii) Date of Demand Draft /

Pay Order

:

iiii) Name of the Issuing

Bank and Branch

:

Bidders, who prefer to submit the EMD by way of RTGS, must indicate

RTGS UTR No., Amount remitted and date.

RTGS UTR NO. :

Amount remitted :

Date :

7 Income Tax Permanent

Account Number(s) (PAN) of

Bidder /Offerer

:

* Each and every information and documents to be submitted is mandatory.

I/We have read and understood the detailed terms and conditions of the sale and have also read, perused

and understood all the relevant papers and have carried out my/our own due diligence. In case any

information is found to be incorrect/ incomplete, I/We shall not hold the Authorised Officer or secured

lenders responsible for the same and shall not have any claim whatsoever against either of them.

Signature of the duly Authorized official of the Bidder/Offerer

Name and Designation of the Authorised Signatory

Place :

Date :


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VI. FORMAT FOR SUBMISSION OF PROFILE OF THE BIDDER

COMPANY/ PARTNERSHIP/ PROPRIETORSHIP

For purchase of the below property

All that piece and parcel of the property consisting of Flat admeasuring 700 Sq.ft (Super

Plinth Area) in Flat No.A-8, Second Floor in Subhiksham Apartments, Door No.78/8,

G-Block together with undivided share of land measuring 351 Sq.ft. out of one

ground 790 Sq.ft situated in inner Plot No.21, X-Block, D.No.G-78, Arignar Anna Nagar

East, Chennai-600 102 in the sanctioned plan of West Madras Neighbourhood Scheme,

comprise in R.S.No.1/ in T.S.No.46/2, Block No.6 part of Periyakudal Village within the

Registration District of Chennai Central and Sub-Registration District of Anna Nagar and

is bounded as follows: On the North By: Scheme Boundary; On the South By: Plot

No.X-22 (D.No.G-79); On the East By: Plot No.X-23 (D.No.G-80) and On the West By:

20 feet Road; Property owned by Shri. N Ranganathan.

(Bid Document to be filled and submitted by the Bidder/Offerer for each property

separately)

1. a) Name of the Company/ Firm/

Party

(in Block letters)

b) Complete Registered Address

c) Complete Correspondence

Address with PIN Code,

Telephone Nos.; Fax Nos.;

Website, etc.

2. Date of Incorporation

3. Constitution

(Private/Public/Joint)

4. Name of Chairman

5. Name of Managing Director /

Partners

6. Board of Directors a)

b)

c)

d)

e)

7. Income tax PAN No.

(attested copy of PAN card of


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the company to be attached)

8. Date of Last Income Tax Return

(Enclose copy of last 3 years’

Income Tax clearance

certificate)

9 d) Full Name of the

Authorised Person to

carry out e- auction on

behalf of the

company/firm /party (in

Block letters)

(Original Authorised letter to

be attached to carry out the e-

auction process)

:

b) Complete Postal Address of

the Authorise person with

PIN Code, Telephone Nos.;

Fax Nos.; Website, etc.

:

c) Mobile Nos.

d) E-mail ID

10 Designation of the Authorised

Person

:


Bidder/Offerer has with any

employee of IDBI Bank Limited.

:


Bidder/Offerer has with

Borrower/Promoters/

Guarantors/Mortgagors as

mentioned in the Tender

Document.

13 Details of Earnest Money

Deposit (EMD).

:

i) Demand Draft No. /

Pay Order No.

:

ii) Date of Demand Draft /

Pay Order

:

iiii) Name of the Issuing

Bank and Branch

:

Bidders, who prefer to submit the EMD by way of RTGS, must indicate

RTGS UTR No., Amount remitted and date.

RTGS UTR No.

Amount Remitted

Date

14 Income Tax Permanent Account

Number(s) (PAN) of the

Authorised person

:


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* Each and every information and documents to be submitted is mandatory.

I/We have read and understood the detailed terms and conditions of the sale and have

also read, perused and understood all the relevant papers and have carried out my/our

own due diligence. In case any information is found to be incorrect/ incomplete, I/We

shall not hold the Authorised Officer or secured lenders responsible for the same and

shall not have any claim whatsoever against either of them.

Signature:

Name of the Authorised Person:

Designation:

Company Seal

All authorizations should be annexed to this form.

Place:

Date:


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VII. FORM OF APPENDIX TO THE BID/OFFER

(DECLARATION BY THE BIDDER)

(ON STAMP PAPER OF RS.100/-)

FORM OF BID/OFFER FOR PROPERTY SITUATED AT ANNA NAGAR EAST

(Note: This Appendix forms part of the Bid/Offer)

To,

The Authorised Officer,

IDBI Bank Limited.,

Retail Banking Group.

No.37, PM Towers,

Greams Road,

Chennai-600006

Sir,

Sale of Secured Asset / Property situated at Anna Nagar East, Chennai

1. Having fully examined and understood the terms and conditions of the Tender

Document and condition and status of the Secured Asset/property, I/We offer to

purchase the said Secured Asset strictly in conformity with the terms and conditions

of this Tender/Offer Document.

2. I/We understand that if my/our Bid/Offer is accepted, I/We shall be responsible for

the due observance and performance of the terms and conditions of the Tender/Offer

and acquire the Secured Asset/property. Should I/We fail to execute and perform the

terms and conditions when called upon to do so, the Earnest Money Deposit (EMD)

shall be forfeited.

3. I/We further understand that if my/our Bid/Offer is accepted, should I/we fail to

deposit the balance amount of 75% of the sale consideration (after having paid 25%

of the sale consideration) by the stipulated date, the said amount of 25% of the sale

consideration (including Earnest Money Deposit) or any further amount/s paid by

me/us shall also be forfeited, as laid down in the terms and conditions of the Tender

Document.

4. I/We further understand that if my/our Bid/Offer is accepted, after making full

payment of the sale price within 15 days of acceptance of bid/offer or such extended

period as may be granted by the AO at her sole and absolute discretion, I/we shall


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arrange to take possession of the secured assets within a maximum of 10 days. I/We

understand that once the Sale Certificate is issued by the AO, the AO shall not be

held responsible for security and safe-keeping of the secured asset. We further

understand that in the event I/We fail to take possession of the Secured Asset as

stated above, the AO reserves the right to revoke the sale confirmed in my/our favour

and forfeit the entire amount paid by me/us and I/we shall have no claims on the

secured assets or to any amount/s for which it may be subsequently sold.

5. I/We clearly understand and accept that the Authorised Officer or the secured lender

do not take or assume any responsibility for any dues, statutory or otherwise, of

Borrowers, including such dues that may affect transfer of the asset in the name of

the purchaser and such dues, if any, will have to be borne/paid by me/us in case

my/our Bid/offer is accepted.

6. I/We understand that you are not bound to accept the highest or any Bid/Offer you

may receive. Further, I/we will not raise any objection in case the Authorised Officer

goes for re-bidding or sell the asset by any of the modes as prescribed in the

SARFAESI Act including sale by negotiation with any of the bidders and/or other

parties by private treaty.

7. I/We understand that time is the essence for completing the acquisition formalities of

the Secured Asset/property and I/we agree and undertake to abide by it.

8. I/WE hereby confirm that I/We do not have any kind of relationship

(professional/personal), with Borrower/Promoters/Guarantors/Mortgagors as

mentioned in the Tender Document.

9. I/We also enclose a Demand Draft/Pay Order of value Rs.……………….........

towards Earnest Money Deposit (EMD) in the name of "IDBI Bank Limited.-A/c

M/s. Archit Builders Private Limited” payable at Chennai.

Or

I/ We have remitted Rs……………………… towards Earnest Money Deposit

(EMD) to IDBI Bank Limited by way of RTGS amount in favour of IDBI Bank

Limited, Account No. 00537000010052, IFSC Code: IBKL0000005, Branch :

Greams Road, No.37, , PM Towers, Greams Road, Chennai-600006.

10. We understand that the EMD will not carry any interest.


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11. We understand that the Bid/Offer should be unconditional and Bid/Offer having

conditions contrary to the terms and conditions of the Tender/Offer document can be

summarily rejected.

Place:

Dated ...___ day of _________2020

Signature ...........………………………. in the capacity of................................

Duly authorised to sign Bid/Offer for and on behalf of.................................................

(Name and address of the Bidder/Offerer)

(IN BLOCK CAPITALS)

WITNESS:

Signature :

Name & Address: ....................................

Occupation :

***